Tilton won't talk
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Nor'Easta
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It seems Tilton is talking:
United and Continental in merger talks
United Air, Continental in Merger Talks, People Say (Update7)
By ************************
Dec. 13 (*********) -- UAL Corp.'s United Airlines and Continental Airlines Inc. are discussing a merger as industry consolidation accelerates, two people familiar with the talks said.
The discussions follow US Airways Group Inc.'s hostile $8.67 billion offer for Delta Air Lines Inc. on Nov. 15. Low- cost carrier AirTran Holdings Inc. said today it offered $290 million for Midwest Air Group Inc.
A United-Continental merger would combine the second- and fourth-largest U.S. airlines in terms of passenger traffic, eclipsing AMR Corp.'s American Airlines to become the world's largest carrier. Airlines are consolidating as they recover from a 33 percent drop in travel after the Sept. 11 terror attacks.
``We don't need six legacy network carriers in this country,'' said Alan Sbarra of San Francisco-based Roach & Sbarra Consulting. ``We're going to consolidate possibly down to three or four.''...
United and Continental in merger talks
United Air, Continental in Merger Talks, People Say (Update7)
By ************************
Dec. 13 (*********) -- UAL Corp.'s United Airlines and Continental Airlines Inc. are discussing a merger as industry consolidation accelerates, two people familiar with the talks said.
The discussions follow US Airways Group Inc.'s hostile $8.67 billion offer for Delta Air Lines Inc. on Nov. 15. Low- cost carrier AirTran Holdings Inc. said today it offered $290 million for Midwest Air Group Inc.
A United-Continental merger would combine the second- and fourth-largest U.S. airlines in terms of passenger traffic, eclipsing AMR Corp.'s American Airlines to become the world's largest carrier. Airlines are consolidating as they recover from a 33 percent drop in travel after the Sept. 11 terror attacks.
``We don't need six legacy network carriers in this country,'' said Alan Sbarra of San Francisco-based Roach & Sbarra Consulting. ``We're going to consolidate possibly down to three or four.''...
JungleClone
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Of course he's not talking. That, in and of itself, is telling. What do you expect him to do? Come right out with a press release acknowledging that he's in talks to merge with Cotinental? That's not the way this game is played. And there are laws against doing things in that manner when they have a material affect on stock prices. Tilton is pimping UA to anyone willing to pony up the cash to fatten his wallet. He has no concern for the employees of UA. He's just looking for a Stephen Wolf-esque industry exit....i.e......walk away with millions.
I think this is called Corporate raiding. Michael Miliken, the famous junk bond dealer, corporate raider and friend of Stephen Wolf, went to jail for this model of white collar stealing. No one in Congress or our court system has plugged up that big, big hole.
ThirdSeatHero
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I needed a name for the header and it was the first thing that came to mind, I wasn't trying to make a definitive statement on the matter. Relax. 😛
casual rat
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That's because Congress wouldn't have 'campaign contribution leverage' if that hole were closed. The wealthy have run amok. It's better (more profitable) for Congress to have the 'moral' threat than none at all.
dc3fanatic
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Don't kid yourself. Tilton already has millions and took a paycut to deal with a bankrupt company. He's looking for UA to succeed. That's why he's there.
AND did you notice that the route structure and company is intact?
U
UAL_TECH
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Intact? By what measure?
Another 60 people (or so) just received their Christmas Bonus (layoff notice) today. One week before Christmas :angry:
At one point we had over 130,000 people and three maintenance bases. :blink:
IMHO, GT never took a pay cut except in the news... :down:
B)UT
DC-3? That explains it, dementia.
JungleClone
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Oh yeah, Glenn Tilton is a real innovative thinker. He sure used bankruptcy to restructure UA into a leaner, meaner airline machine. 🙄
Anyone who thinks Glenn Tilton wants to run UA for the long haul is crazy. And if CO and UA merge, you can bet it will be CO management that runs the combined company. Tilton and his band of hotshots don't inspire much faith from Wall Street.
Anyone who thinks Glenn Tilton wants to run UA for the long haul is crazy. And if CO and UA merge, you can bet it will be CO management that runs the combined company. Tilton and his band of hotshots don't inspire much faith from Wall Street.
...one hint about his aspirations was in a story I read last week quoting an attorney who represented UA in the bankruptcy and noted that all of his overtures to other carriers were for UA and his team to be the survivors. just a thought.
ThirdSeatHero
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One can only hope.
As to not insiring much faith from Wall Street, well they don't inspire much faith from their own employees. 🙄
JungleClone
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flyhigh,
That's a good point. I have read in more than one publication variations of the same thing. But my opinion on that is that Tilton himself does not want to run UA for the long haul. I don't think he's interested in hanging around more than another year or two. I think he's intent on doing what he can to ensure the long-term survival of his senior management team. But my opinion is that he is not long for this industry. And I hope that's the case, since I don't think he has a clue how to truly restructure UA from the inside out. I agree with Holly Hegeman's PlaneBusiness column from this past week, where she says that she just doesn't see how a CO/UA combination would see UA management retain control. The bottom line is that Wall Street and the investor/financial community do not have much faith in Tilton or Jake Brace. So I can't see how any merger with CO would see UA mgmt retain control. No way that happens.
That's a good point. I have read in more than one publication variations of the same thing. But my opinion on that is that Tilton himself does not want to run UA for the long haul. I don't think he's interested in hanging around more than another year or two. I think he's intent on doing what he can to ensure the long-term survival of his senior management team. But my opinion is that he is not long for this industry. And I hope that's the case, since I don't think he has a clue how to truly restructure UA from the inside out. I agree with Holly Hegeman's PlaneBusiness column from this past week, where she says that she just doesn't see how a CO/UA combination would see UA management retain control. The bottom line is that Wall Street and the investor/financial community do not have much faith in Tilton or Jake Brace. So I can't see how any merger with CO would see UA mgmt retain control. No way that happens.
